ERP in The Era of Smart Factories And Industry 4.0
Industry 4.0 is known as the Fourth Industrial Revolution, which aims at the digital reinvention of old manufacturing and industrial approaches by leveraging enabling technologies. It mainly concentrates on utilizing emerging technologies such as Artificial Intelligence, Big data, the internet of things, cyber security, cloud, and ERP. The emergence of Industry 4.0 has significantly transformed the dynamics of today's enterprise resource planning. Gone are the days when traditional ERP systems were only used to store and manage complex data and provide straightforward information access. Modern ERP systems are powered by advanced capabilities like artificial intelligence, the Internet of Things, and predictive analytics modules that not only automate complex work operations but also share relevant insights that help organizations thrive and overcome complexities. In the broadest sense, ERP solutions are designed to address business issues by removing the complicating ...